What am I supposed to make of this? Are you looking for news about the housing market? I always am. I think the housing boom has been fascinating, and I am curious to see how it all plays out, particularly with respect to its impact on the overall economy. So, I found these conflicting reports particularly amusing.
CBSMarketwatch.com: "Housing Market Gains Steam"
CNNMoney.com: "Home Prices: Record Drop in October"
Same day. I guess the lesson is to do your own research. Don't make decisions based on one article, one story or one guy you saw on CNBC.
Here are the screen shots:
But the headlines don't tell the whole story, of course. Without reading them, I wonder if they're not saying the same thing - if housing prices drop, wouldn't there be an initial uptick in sales until inventory gets tighter, which would then drive the prices up? (And then slow down the number of sales...)
Posted by: Emy | November 28, 2006 at 01:17 PM
Seems to me if you're not considering buying or selling in the short term, it doesn't really matter. Who cares if prices are up or down in a traditionally volatile market if you're not making a move soon? I got all hung up on the value of my house through all the recent news. Then I got to thinking that we are probably holding for the next ten years or so. THEN we'll wonder what real estate is doing.
Posted by: The Sarcasticynic | November 28, 2006 at 04:40 PM
I agree with both commentors above. It is too early to tell and it does depend on your situation as to if it should be a concern. I tend to think that the economy will support a decent housing market after things like Iraq settle down. It is a buyer's market at the moment but things often change for the strangest reasons.
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